The word is this, from S&P on their downgrade of the United States' credit rating:
Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.
What time is it?
It's time to fight; for your party, your second term and ultimately your country. It's time to lay blame squarely on those who deserve it. It's time to stand up in front of that podium and give a speech telling the American people exactly what S&P thinks of the Republican party. Make no mistake, Mr. President; they are hoping to pin this all on you. All of it. And as ludicrous and illogical as it seems, the GOP logic-blender spins sleeplessly and is capable of convincing basically anybody of anything. They can do it. They can and will use this against you; unless you pull out all the stops, now. I know it's election season so you are wary of straying too far from what is perceived as the "center". But that is exactly what you need to do. It is painfully obvious that the Republicans in congress wish to take political advantage from any action you take, especially when you act to placate them. It is also obvious that getting you out of office is their goal, and whatever betide they intend to achieve it. Gone must be the illusion that they would negotiate with you in good faith.
It's time for you to call them out; from the left, Mr. President.